china). The charts below suggest that the Chinese economy has stabilized and confirm the solid BNP growth numbers (plus 6.7% in Q3 bbc). Faster growing retail sales are a sign that China´s consumer spending, the motor of the domestic economy, has bottomed out.
I am not surprised. The huge country is still in the begin of a secular catching-up process which is
fueled by extreme income & wealth differences to the US and other
Western nation values. Today China has about $7,500 income per capita, the US number is $54,600 (worldbank).
And: China is transforming into a modern economy, helped by the
technological progress. People are flooding into the big cites. The
rapid urbanization creates millions of jobs and is driving income growth
for the whole nation. Swift rising incomes are fueling the economic
growth of China. This economic environment makes a China crash highly
This is good news for the global economy: China is the world's second-largest economy and the second-biggest importer of both goods and commercial services. It looks like that China´s consumer could save the world.